• Paycheck Protection Plan reopens, new guidance issued

    January 12, 2021
    The U.S. Small Business Administration and Treasury Department announced Monday that the Paycheck Protection Plan (PPP) reopened this week for new borrowers and certain existing PPP borrowers.

    This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

    To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter.

    Click here to learn more about this round of PPP.